This website uses cookies to ensure you have the best experience. Learn more

Reward System Essay

753 words - 4 pages

Reward systems are always criteria to determine the performance of a business as well as individuals contribute to it. A properly calculated and administered reward system can be a real good motivation for quality workman ship or staff performance. Similarly a poorly judged and administered reward system can trigger the “folly of rewarding A while hopping for B”

Most of the staff irrespective of the region or activity they indulged seeks to identify the activities which could earn those rewards and always tends to do so. While most of the rewards expected are tangible; intangible rewards also pay back well to an organization where emotional motivational inducement systems are working.
...view middle of the document...

The theory asserts that motivation is   based on people's beliefs about the probability that effort will lead to performance (expectancy),   multiplied by the probability that performance will lead to reward (instrumentality), and multiplied by the perceived value of the reward (valence)
    The expectancy theory is the perceived value of a reward for accomplishing a goal.  If the person     perceives the reward to be high, then they will give more effort.  If they perceive the reward to be low, then they will give forth minimal effort.  If the reward seems undesirable, it could be     an example of a de-motivator.
How the reward system designed and administered and when it is administered are equally important in motivating the staff. I will explain some of the real activities in our organization which mostly lead us to optimize the out put while keeping the operational cost in line with the inflation level. In the financial year 2004 the only reward system available was year end bonus scheme. The way it was designed was based on century old idea of a group of people deciding a lump sum amount from the profit and this amount will be distributed among employees by the top manager where the personal relationship with him was the main criteria to attract a reasonable reward payment. Eventually this lead to a...

Other Papers Like Reward System

Designing a Reward System Essay

1822 words - 8 pages management could be considered an intrinsic motivator as well as extrinsic because it allows the person receiving the praise to feel valued. In order to design an effective reward system, an organization must first attract potential employees to their agency. In today’s workforce, many companies offer salaries that are similar. While the salary may be competitive, perspective employees often choose an organization based on the benefits package

Reward System in Google Company Essay

1789 words - 8 pages organizations need to be aware how important human resources are – and in order to retain and invite effective employees, reward systems must be enhanced. This paper discusses the reward system of Google Company. Google Inc. gives a standard package of fringe benefits plus a first-class dining facilities, free gyms, laundry and dry cleaning rooms, massage and haircut services, carwashes, shuttles and buses, play area, sleeping quarters, and a lot more

Using the Right Financial Reward System in Indonesian Public Sector

2154 words - 9 pages Motivation in the workplace: using the right financial reward system in Indonesian public sector INTRODUCTION Indonesia is one the most populous nation in the world, which happen to sit in one the most dynamic region between Australia and Asian industrial countries like Japan, China and South Korea. With Asia and Australia nearby, Indonesia is trying to leverage its strategic position by building its economic capacity. As commonly seen in

Businees Essay

808 words - 4 pages The Importance of Reward Management The elements of reward management within a business organisation are all the things that they use to attract potential employees into their business which includes salary, bonuses, incentive pay, benefits and employee growth opportunities such as professional development and training opportunities. Having a reward management system in place provides the business with many advantages, especially in small to

How Different Reward Strategies Are In Connection With General Human Resource

3258 words - 14 pages , principals and strategies should be applied and implemented in specific areas of HRM in the form of guidelines: thus policies, and there must be always an alignment with business policies and corporate strategy. One of the policy goals is to develop reward strategies designing to support a performance driven culture, it has a specific area with specific policies: in way to provide an equitable pay system and level, paying for performance

High Performance Papers

594 words - 3 pages work environment before. In our company, we do not follow the normal reward line. We reward through the creative way when we do things differently. Most of people from our company will not get clear instructions what they will do in office, and then stick to that once the rule selected. In fact, we have a reward system that encourages contrary behavior. The above is example of reward systems which encourage behavior contrary to what is wanted

Reward And Recognition

403 words - 2 pages with idea of recognizing. Varying in definition, rewards and recognition still give the same thought of motivating the employees to work for the organization. The strategic and operational goals can be met through rewards and recognition. Every organization requires a reward system so as to address compensation, benefits, recognition and appreciation. A strong employee reward program is essential for motivating the employees, creating a

Desighning a Reward Sysyte

1211 words - 5 pages Designing a Reward System Jamie Traylor HSM/220 Lucille Reeves 8/2/15 Many people who work in Human Service positions can attest to the many needs of those that come to them for help have. These people see some of the best and worst in others, and they are not always capable of helping all of those that come to them in need. Human service jobs have the potential of being highly stressful, due to the large workloads that many faces in

Designing a Reward Program

1125 words - 5 pages Designing a reward system Designing a reward system When implementing a rewards program in the workplace there are several things to consider. When beginning to implementing a program the first thing to consider is the goals of the company or corporation. Sometimes the employer will seek the employees input for ideas of some possible rewards and promotions. Usually they reward will be based on performance of an individual, group, or

Gm 591: Leadership and Organizational Behavior

1508 words - 7 pages place are working to the companies and employees advantage. References Yi Hua, H., & Hai Ming, C. (2011). STRATEGIC FIT AMONG BUSINESS COMPETITIVE STRATEGY, HUMAN RESOURCE STRATEGY, AND REWARD SYSTEM. Academy Of Strategic Management Journal, 10(2), 11-32. Perkins, S. J., & Vartiainen, M. A. (2010). European reward management? Introducing the special issue.Thunderbird International Business

Financial Rewards

2781 words - 12 pages Table of Contents 1.0 Introduction 2 1.1 Research question 2 1.2 Background 2 2.0 Motivation 2 2.1 Definition of Motivation 2 2.2 Theories of Motivation 3 3.0 Reward System in Organizations 3 4.0 Types of pay Scheme’s 4 4.1 Payment by Result 4 4.2 Skills-based pay 4 4.3 Profit sharing 4 4.4 Performance-related pay 5 5.0 Discussion 5 6.0 Empirical Study 6 6.1 Volvo Current Reward System 6 6.2 Employee and Mangers

Related Essays

Reward System Essay

3368 words - 14 pages statement Can the reward system be effective in improving performance and productivity in ChemLab Supplies International? It is clearly evident that the company employees are most certainly demotivated and that is why they absent themselves from work and a large number of them quit their jobs. A system to motivate these employees should be implemented to curb this problem. The employees are always giving reasons not to come to work and within no

Total Reward System Essay

1426 words - 6 pages Total Rewards System Paper University of Phoenix Online HRM570/Employee Motivation and Compensation November 27, 2006 Total Reward System Developing ways to increase job satisfaction and employee motivation include a total reward system. A total reward system includes more than just an individual’s pay and benefits. An organization needs to design a reward system needs that is aligned with their mission, goals, and

Designing A Reward System Essay

765 words - 4 pages 1 Designing a reward system Shirquana DeBerry HSM/220 May 13, 2012 Sally Paige Nichols Axia College of University of Phoenix 2 My mission within this organization is to boost morale and the overall work ethics of my employers. I feel that the employees perform their best and are more motivated to complete task when there are incentives involved. I want my establishment to be the type where all the employees are happy to be at work

Designing A Reward System Essay

954 words - 4 pages Emiley Halteman Week 4 assignment 9/22/2013 Designing a Reward System New Employee reward system, Effective immediately Hello everybody. As the new manager on board I would like to set some new goals for all of us. I have evaluated each one of our employees and asked they give me an idea of what their basic needs are. With this helpful information from all of you I have created this new system to help all of us to be more